New data on the Bulgarian transaction sector: 1997 – 2006.

Abstract

Chobanov and Egbert (2007) measured the transaction sector between 1997 and 2003 for the Bulgarian economy. They report an increase in the transaction sector from below 40% to more than 50% of GDP. This indicates a fundamental institutional change within a short period of time. Here, we repeat this study because more precise data have become available since January 2008. The National Statistical Institute recalculated the GDP and it is the basic reference point in our study. Furthermore we are able to include the years 2004 to 2006, thus providing data for a full decade. We also improved the methodology of Chobanov and Egbert coming closer to the original concept of the transaction sector.